BENQI QI Price

What is BENQI (QI)?

BENQI, a decentralized finance (DeFi) and Web3 protocol developed in collaboration with Rome Blockchain Labs, has become a game-changer on the high-speed Avalanche smart contract network. Launched in March 2021, BENQI provides users with a seamless platform for lending, borrowing, and liquid staking, offering a breath of fresh air for DeFi enthusiasts seeking alternatives to congested and centralized networks. With over $228 million in total value locked, 80,000 users, and 50 integrations, BENQI's Liquidity Market Protocol on Avalanche stands out for its scalability, low fees, and commitment to democratizing access to decentralized financial products.

At the core of BENQI's ecosystem is the QI token, a native asset on Avalanche that plays a pivotal role in governing the protocol. QI holders are empowered to vote and decide on proposals through BENQI Improvement Proposals (BIPs), showcasing the protocol's commitment to transitioning into a Decentralized Autonomous Organization (DAO). The Liquid Staking protocol within BENQI offers a unique solution for capital efficiency, allowing users to unlock their staked AVAX for use in other decentralized financial protocols. This innovation, coupled with the protocol's dedication to minimizing risks through audits and open-sourcing, positions BENQI as a leading force in the DeFi space, providing versatility and accessibility to users while alleviating the burden on networks like Ethereum.

The BENQI project, founded by Rome Blockchain Labs and backed by strategic investors, including Ascensive Assets and Dragonfly Capital, not only aims to offer financial products through its protocol but also seeks to address broader industry challenges. By leveraging Avalanche's scalability and low fees, BENQI provides an alternative that is both cost-effective and faster for users, contributing to the decentralization of financial services. As BENQI continues to evolve, its integration of Chainlink's Proof of Reserve and Automation, metaverse collaborations, and the release of veQI for enhanced staking activities highlight its commitment to staying at the forefront of DeFi innovation, making it a noteworthy player in the rapidly evolving crypto landscape.

What is unique about BENQI (QI)?

BENQI on Avalanche stands out for its DeFi and liquid staking services, offering low fees, scalability, and governance through the QI token.

Who are the founders of BENQI (QI)?

Rome Blockchain Labs Inc. is the development force behind BENQI, founded by JD Gagnon, Hannu Kuusi, and Alexander Szul.

Who are the backers/investors of BENQI (QI)?

Strategic investors include Ascensive Assets, Dragonfly Capital, Mechanism Capital, and notable names like Ava Labs and Morningstar Ventures.

Where can I buy BENQI (QI)?

You can buy BENQI (QI) on Binance, Gate.io, MEXC, Coinbase, Kraken cryptocurrency exchanges.